Limited Company Law for residential management companies
Where the Management Company is limited by Shares, Share Certificates will need to be signed by the Company Secretary and Director for the new owners.
During the course of the year, these Share Certificates would be forwarded through to Merlin Estates Ltd for signature and return and onward passage to the new purchasers.
Where a Management Company is Limited by Guarantee, Share Certificates are not issued. The approval of the Management Company is usually required for a new owner to be Registered with the Land Registry in terms of either consent to the Sale or application of membership of the Company. There is not usually any power to refuse such Approval although this may sometimes be subject to any arrears of the Maintenance /Service Charge being paid.